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IFRS Interpretations Committee meeting — 10–11 November 2015

Start date:

End date:

Location: London

IFRS IC meeting (blue)

The IFRS Interpretations Committee met at the IASB's offices in London on 10–11 November 2015. The Interpretations Committee continued its discussions on four issues. Of these, the most substantial discussions were those that related to variable payments for asset purchases (Tuesday 10:05 to 11:05) and the relationship between IFRS 9 and IAS 28 in terms of impairment testing of financial instruments that are “in substance” part of an entity’s net investment in an associate or joint venture (Tuesday 11:35 – 12:15). The Interpretations Committee finalised one agenda decision and considered five new issues. For all of the new issues, the recommendation was not to take the item onto the agenda.

Agenda for the meeting


TUESDAY, 10 November 2015 (10:00-16:20)

Morning session (10:00–12:15)
  • Opening remarks, administrative matters, and meeting minutes of the September meeting
  • Items for continuing consideration
    • IAS 16/IAS 38/IFRIC 12 — Variable payments for asset purchases and payments made by an operator to a grantor
    • IFRS 9/IAS 39 — Derecognition of modified financial assets
    • IFRS 9/IAS 28 — Is measurement of long-term interests in associates and joint ventures, including impairment, in accordance with IFRS 9, IAS 28, or both?

Afternoon session (13:15–16:50)

  • Items for continuing consideration (continued)
    • Definition of a Business — Update on IASB proposals
  • Agenda decisions to finalise
    • IAS 2/IAS 38 — Should interest be accreted on prepayments in long-term supply contracts?
  • New Issues
    • IAS 20 — Recoverable cash advances provided by government
    • IAS 12 — Accounting for income tax consequences of interest payments on and issuing costs of financial instruments that are classified as equity
    • IAS 36 — Recoverable amount and carrying amount of a cash-generating unit
  • Other topics
    • Agenda consultation

 

WEDNESDAY, 11 November 2015 (09:00-12:00)

Morning session (09:00–11:40)

  • New Issues (continued)
    • IAS 32 — Offsetting in respect of certain cash pooling arrangements
    • IFRS 9 — Determining hedge effectiveness for net investment hedges
    • IFRIC 12 — Combined service concession and lease arrangements
  • Administrative session — work in progress

 Agenda papers for this meeting are available on the IASB's website.

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